Indian stock markets started Thursday’s session on a weak footing, with benchmark indices declining in early trade as global uncertainty and continued foreign investor outflows dampened sentiment.
At around 9:25 AM, the BSE Sensex was down by 671 points, or 0.85 per cent, at 77,845, while the Nifty 50 slipped 179 points, or 0.74 per cent, to 24,198.
Broader markets showed a relatively smaller decline. The Nifty Midcap 100 fell 0.34 per cent, and the Nifty Smallcap 100 edged lower by 0.16 per cent, indicating some divergence from the benchmark indices.
Most sectoral indices were in negative territory. Auto and consumer durables stocks led the losses, while pharma and oil and gas sectors managed to stay marginally positive.
Analysts noted that the Nifty is approaching a key support band between 24,100 and 24,000. Resistance is seen near the 24,400–24,500 range.
The weakness follows a subdued previous session, where markets failed to hold higher levels amid selling in banking and financial stocks.
IT shares remained under pressure due to mixed global cues. In contrast, defensive sectors such as FMCG and energy showed some stability.
Globally, sentiment remained mixed. US markets closed higher overnight after US President Donald Trump extended a ceasefire with Iran, citing internal instability in the country. The Nasdaq rose 1.64 per cent, while the S&P 500 and Dow Jones also posted gains.
Asian markets traded lower, with declines seen across China, Japan, Hong Kong, and South Korea, reflecting caution among investors.
Foreign institutional investors continued to offload Indian equities, selling shares worth over Rs 2,000 crore in the previous session. Domestic institutional investors also remained net sellers, adding to the downward pressure.
Despite the early losses, market participants pointed to steady corporate earnings growth. They also cited improving forward estimates as supportive factors for the longer-term outlook.
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